SUEZ has opened one of the world’s largest, most advanced analytical laboratories to serve its growing client base, including the booming refining and petrochemical market, as well as oil and gas operations along the Gulf Coast and beyond. The facility, which will support SUEZ’s…
French utility Engie SA and a Canadian pension fund plan to offer as much as US$9 billion (34 billion reals) for Petrobras’s natural gas pipeline network, potentially a US$1 billion boost from their initial bid. Petroleo Brasileiro SA is now finalising terms with Engie…
Norwegian oil giant Equinor has kicked off oil production from its Oseberg Vestflanken 2 field in the North Sea. The field has been developed using the new Oseberg H platform, the first unmanned platform on the Norwegian Continental Shelf. The platform is controlled remotely from…
Norwegian E&P player Aker BP has received consent from the offshore safety body, the Petroleum Safety Authority (PSA), for the use of the Maersk Reacher offshore rig as a quarters facility on the Valhall field. Since a lot of work will be taking place…
Big Oil is giving up looking for singles and doubles in the Gulf of Mexico: now it is home runs or bust. Exxon Mobil and Royal Dutch Shell, the world’s two biggest oil companies, have put a slew of assets in the Gulf up…
Iran’s private banks have reportedly laid the groundwork for setting up a joint bank with their counterparts in Iraq. Yahya Al-e Es’haq, head of Iran-Iraq Chamber of Commerce, is quoted as saying that the bank would operate under the regulations of central banks of…
The Lebanese Petroleum Administration (LPA) could launch Lebanon’s second offshore licensing round next month. This follows approval last May by the Council of Ministers to start preparations for the round. Speaking at the company’s Explorers Seminar in London last week, Jevon Hilder, Spectrum…
Westwood has identified a total of 199 exploration wells drilled across the UK continental shelf (UKCS) over the past ten years, in its report, UK Offshore Exploration Performance 2008-2017. The wells, drilled by 117 companies, targeted 26 plays and discovered 1.5 Bboe of commercial…
The International Energy Agency has moderated its global oil demand outlook, according to its October Oil Market Report. IEA now forecasts a growth of 1.3 million b/d for 2018 and 1.4 million b/d for 2019, respectively, a reduction of 110,000 b/d for both years from…
Lloyd’s commits to paying claims in ‘no deal’ Brexit Lloyd’s is working on transferring all European Economic Area (EEA) business to Lloyd’s Brussels before the end of 2020 via a Part VII transfer. In the event that the UK leaves the European Union before…
